A developer is an individual or company that improves raw land into improved property by utilizing labor, capital, and entrepreneurial efforts.
Improvements refer to alterations made to raw land, such as the addition of buildings, streets, and sewage systems, which tend to increase the value of the property.
Raw land refers to undeveloped land that lacks improvements such as buildings, utilities, streets, drainage, and landscaping. Often, raw land is purchased for development purposes, such as constructing residential subdivisions or commercial properties.
Undeveloped land, also referred to as raw land, represents parcels of property that have not been built upon, subdivided, or improved. This type of real estate offers a range of investment opportunities but also comes with various risks and considerations.
Unimproved property refers to land that remains in its natural state, with no existing developments, construction, or site preparation. It is often also referred to as raw land.
Vacant land refers to parcels of land that are not currently being used for any purpose. While it may contain basic utilities and some off-site improvements, it remains unutilized as opposed to developed land.
